Market Watch

AUDCAD (SELL) - In the overall outlook, this pair still has a long way to go down, at least to 0.92100. Although the monthly MACD is still on the underside but the STOC has turned down near the overbought area, so we decided to go in and sell it again - Yesterday we closed our positions and took a profit of 31 pips. We are now standing aside waiting for the market to calm down.

AUDJPY (BUY) - Although this pair still has some distance to go down before making a turn, but we want to catch a correction in the progress as the weekly STOC has been in the oversold area, so we decided to get in for a buy - Yesterday we closed some of our positions and took a profit of 260 pips. We are now holding at 80.3005.

EURAUD (SELL) - The weekly STOC has already passed the oversold level and in a wider picture it has the potential to go down at least to 1.4300, so we decide to get in and sell it again - Yesterday we closed our positions and took a profit of 42 pips. We are now standing aside waiting for the market to calm down.

EURCAD (SELL) - For this pair, this is a rebound we have been waiting for from April's low when the weekly MACD started to go under the zero line, so we decided to get in for a sell. Yesterday we closed our positions and took a profit of 95 pips. We are now standing aside waiting for the market to calm down.

EURGBP (SELL) - The pair has turned back from the monthly overbought level and this is an opportunity to sell, but MACD is still on the underside, so the risk is still there and we will be very cautious - Yesterday we closed some of our positions and took a profit of 107 pips. We are now holding at 0.777443.

EURJPY (BUY) - The pair has been downwardly passed the monthly oversold level and zero line. Although it will go down for some more, it is still presenting an opportunity to buy - Yesterday we closed some of our positions and took a profit of 424 pips. We are now holding at 121.9238.

GBPAUD (SELL) - With the monthly MACD is still on the upper side and weekly STOC is turning down from the overbought area, we decided to sell this pair again - Yesterday we closed our positions and took a profit of 360 pips. We are now standing aside waiting for the market to calm down.

GBPCAD (SELL) - This pair still has the monthly MACD on the upper side and got some distance to sell, at least to 1.7700 level. With a weekly cross down from the high last May, we decided to get in and sell it again - Yesterday we closed our positions and took a profit of 231 pips. We are now standing aside waiting for the market to calm down.

GBPJPY (BUY) - This pair has been in the monthly oversold area and MACD has passed the zero line. The weekly MACD is still on the underside, so we decided to get in for a buy - Yesterday we closed some of our positions and took a profit of 514 pips. We are now holding at 153.7240.

GBPNZD (SELL) - For the longtime outlook, this pair still has some distance to sell, at least to 1.9700 level, and the weekly STOC has turned down near the overbought area, so we decide to get in again - Yesterday we closed our positions and took a profit of 837 pips. We are now standing aside waiting for the market to calm down.

GBPUSD (BUY) - This pair has been down to the oversold level from January 2016 and the monthly MACD is on the underside at an extreme level, so we are looking for a chance to buy this pair - We are now holding new positions at 1.374785.

NZDCHF (BUY) - This pair has a potential to go up higher, but the monthly STOC has been near the overbought level, so we will always be careful every time going for a buy - Yesterday we closed our new positions and took a profit of 68 pips. We are now standing aside waiting for another opportunity to buy it again.

USDCAD (SELL) - The pair will need some corrections before going down again, at least to 1.2300 level, so we decide to sell it again - We covered our short positions and are now holding at 1.27621.

USDJPY (BUY) - It is an opportunity to buy when the both monthly and weekly STOCs have been in the oversold area for more than 2 months - Yesterday we closed some of our positions and took a profit of 190 pips. We are now holding at 103.8250.

(Charts: Forex Trader)

Disclaimer: This is a personal analysis, not an actual advice, therefore we will not accept any liability for any loss and damage which may arise directly or indirectly from the content of these and future articles.